WARNING: is Bitcoin now going to CONFIRM a TREND down?

Okay and we’d have that over extension at the end um, but again you know we we’re going. We won’t know what’s going to happen until those structures start to emerge now the other issue that you have the higher that we push with wave four say it comes up here, then the lower that you’re going to end up going within our fifth wave structure as well, okay, so bear those things in mind now, why do I talk about this? Why is all this important I’m going to delete the fibs off for a second all. This is important, because what we want to do is we want to know whether or not we are trending to the downside right and for this, we need would need to know if this is a wave one. This is a wave two, then all of this would have to be away. Three we’d go up into wave four and then go into wave five. However, this wave 3 has a minimum expectation of 1.618 times that of wave one okay waveform being up there, so it would mean that we would have to come down pretty deep, and the question is: would this little mini wave 5 actually meet those requirements because if it does not, then all we’re doing is a zigzag pattern and a zigzag pattern is not a trend, so we would be able to say look. We still have our targets to the high side here, and all of this is just corrective and it’s fantastic. We’re going to the moon uh I wouldn’t say that, but you kind of get the idea right.

We’ve got a little bit higher to push before. We do have a correction to the downside, and so when we kind of reflect on this- and we kind of pull this back down- and we can kind of see that the 1.618 would be all the way down here at 22 2013, which would mean that if we had a regular wave 5 situation over here then we are not in a trend to the downside because we’ve yet to hit that trend threshold at 22 2013.

The only way to do this under the current structure at the moment would be for an over extension within that way. Five, where we do pull down and we hit that level. Okay, so lots of things to kind of be thinking about here, lots of things to kind of keep ourselves concerned with when it comes to the price action of btc. As I said at the moment, we did break our ranging market to the downside,

but it hasn’t really helped us because of the formation of this structure know whether or not that 27 to 28 000 range is going to be the one that we’re going for or whether or not this is a part of an irregular flat correction, all the way from over here with an a b c structure like this okay, and until we kind of get a way of confirming one way or the other. This is either just a zigzag to the downside. Then we rally up or we train and down it’s going to be technically speaking. Both of these possibilities are true, and so we want to be very. Very cautious. I was hoping that just breaking out of the the ranging market to the upside or to the downside was essentially going to kind of you know tell us the path of bitcoin.

Unfortunately, the structure, that’s emerged hasn’t really helped us narrow down the possibility of an upward move or a downward move; okay, so still very inconclusive. So again we do end up drawing our ranging market lines, one on the lower side at 21, 351 and one on the higher side at 25.250, okay, so we are looking for either early confirmation of a trend structure to the downside, in which case we can be predictive in saying that we will not pierce higher than 25 250 or we kind of fall short here.

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